Free Thinking – Time to Open the Economy

Free Thinking – Time to Open the Economy

May 13, 2020
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FWP Office Status

It is time.  We are physically open for client visits.  Please don’t come if you are sick, have been around anyone who is sick, or have recently conducted expeditions to collect virus samples from bats with limited protective gear and then stored those samples in defective freezers.

Please call or email if you need anything.  Local clients who may have limited ability to move about – that means anything – groceries, yard work, whatever – just ask and we can help.

What Have We Been Doing For You?

April was a big month for rebalancing, particularly in our retirement accounts.  The general tenor of our changes was to reduce exposure to foreign investments and focus on quality investments closer to home.  Europe will be spending the next decade recovering from the inevitable dissolution of the European Union (Brexit was the opening bell, get your popcorn ready).  China has proven to be an unreliable investment partner and Japan is stuck in a demographic trap.  The US remains the strongest investment option for the foreseeable future.

What’s Next

The economy will be reopening and recovering, albeit at different paces depending on the locality.  Economic numbers (unemployment, corporate earnings, GDP) will be absolutely horrible for the next few reporting cycles.  We know that, so shouldn’t be surprised.  The media will do their best to scare everyone.  Stay strong.

Some businesses will fail.  Others will replace them.  Some jobs will be permanently displaced.  New ones will be found.  It may not be pretty or immediate, but that’s how free market capitalism works.  Keep the faith.  The American people are a resilient bunch.

Where’s My Stimulus? (Repeat from April)

The CARES Act, signed March 27th, provides direct stimulus to many families.  Amount and eligibility will be determined by income and family composition.  For more details:  https://www.irs.gov/coronavirus.

CNBC has a simple calculator to determine if you will receive a check.

Scam alert – you do not have to do anything to receive the stimulus.  Do not respond to any calls, emails, texts, social media invites regarding enrolling or signing up for this.  Delete, delete, delete.

Questions?

Feel free to call or email us any time.  No question is too crazy to answer – we’ve heard them all.

 

The opinions voiced in this material are for general information only and are not intended to provide specific investment or tax advice for any individual.  No strategy assures success or protects against loss.  Investing involves risk including loss of principal.